Tuesday, October 10, 2023

IMF Says UK Faces Five More Years of High Interest Rates

BBC: The UK faces another five years of high interest rates to stem rising prices, an influential global group has warned.

The International Monetary Fund expects the UK to have the highest inflation and slowest growth next year of any G7 economy including the US, France, Germany, Canada, Italy and Japan.

However, the Treasury said recent revisions to UK growth had not been factored in to the IMF's report.

The outlook was drawn up before this weekend's developments in Israel. » | Lucy Hooker & Faisal Islam, BBC News | Tuesday, October 10, 2023